Emerson Electric expected to wrap up Avocent tender offer on Thursday

By Lisa Kerner

Charlotte, N.C., Dec. 9 - Emerson Electric Co. said it does not expect to extend its tender offer for Avocent Corp.'s outstanding shares beyond the deadline of 5 p.m. ET on Thursday.

The $25-per-share offer began on Oct. 15.

As previously reported, Emerson had extended the offer numerous times pending the expiration or termination of the applicable waiting periods under the competition laws of Hungary, Austria and Germany.

On Monday, Emerson announced that a total of approximately 42.5 million shares, or 95%, of Avocent common stock had been tendered in the offer, including about 2.0 million shares tendered under notices of guaranteed delivery.

Emerson, based in St. Louis, provides network power, process management, industrial automation and climate technologies solutions.

Avocent designs, manufactures, licenses and sells software and hardware products and technologies that provide connectivity and centralized management of IT. The company is located in Huntsville, Ala.

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